Property & Development Magazine Issue 427 | Page 35

Retail & Leisure

OPPORTUNITIES
FOR SUCCESS
The UK commercial property market faces
a number of challenges in such
a competitive industry.

T

he retail and leisure sector poses numer-

to adhere to health and safety standards, for instance,

ous challenges to tenant businesses and

can effectively lead to a site being shut down and a

landlords although, if overcome, proper-

business' reputation being diminished as result.

ties can be amongst the most lucrative in

Effective management of works is imperative and any

the industry. With the UK's commercial property

contracted services have to be co-ordinated with

market valued at in excess of £650bn, and retail and

operational times so to pose minimal disruption to ten-

leisure properties making up 45% of that total,

anted businesses and minimal risk to customers.

there are great gains to be had for those getting it

Unlike residential, commercial and industrial proper-

right, yet in such an intensely competitive industry

ties, the retail and leisure sector is tasked with a further

that's easier said than done.

rung beneath accommodating the interests of the ten-

There's no domain in which the saying, “location,

ant, that of providing for the customer. That core aim

location, location” holds more true; retail and leisure

poses a number of additional considerations for both

businesses, regardless of their trade, have to pitch it

the tenant and landlord, each concerned with maximis-

exactly right if they're to become economic assets.

ing profitability, and can range from interior décor to

Whether there's a need to attract passing traffic, avoid

adequate HVAC. It is primarily the customer to which

competition, thrive on competition or provide ade-

these decisions are geared because, without them, the

quate parking, the choice of site can be instrumental in

property's use and valu H\